(a) This section does not apply to reserves for disability and accidental death benefits and benefits for long-term home health care and long-term care in a nursing home or other related institution included in a life insurance policy.

(b) An insurer’s aggregate reserves for all life insurance policies may not be less than the aggregate reserves calculated in accordance with:

(1) the methods set forth in §§ 5-307, 5-308, 5-311, and 5-312 of this subtitle; and

(2) the mortality tables and rates of interest used in calculating nonforfeiture benefits for those policies.